The Community Foundation of Johnson County received the first Endow Iowa Tax Credit tax report of the year indicating $1.6 million in Endow Iowa Tax Credits remain for the 2015 calendar year.
Any gift(s) made to any endowed fund held at a qualified Community Foundation is eligible for a 25 percent state tax credit. Endow Iowa Tax Credits are available on a first-come, first-served basis until the remaining tax credits are claimed.
CFJC Executive Director Mike Stoffregen said a gift could be made to an individual's own donor-advised fund, or to an existing endowment fund held at CFJC, including our Partners in Philanthropy nonprofit funds. "We urge donors to act now to take advantage of this opportunity to support the causes and communities they care about and receive an Endow Iowa, 25 percent state tax credit. These tax credits have played a very critical part of providing philanthropic dollars to our community. The tax credits are on a first-come, first-serve basis and will run out before the end of the year."
The Community Foundation of Johnson County is a catalyst to grow endowment through philanthropy. In the decade since establishing the Community Foundation of Johnson County, has raised more than $20 million in endowed assets and nearly $6 million in bequests, and distributed more than $8.03 million in grants and $893,000 in sponsor support. Additionally, contributors' gifts have encouraged more than 40,000 volunteer service hours for 143 charitable giving and endowed funds at a cost of less than 2 percent to accomplish its goals – grown endowment for the greater community good. For Good . . . For Ever.